Whole Bank and Thrift Deals Completed in First Quarter of 2002

April 11, 2002, 10:08 a.m. EDT 1 Min Read

View Table

Printer Friendly Version

Whole Bank and Thrift Deals Completed in First Quarter of 2002
Ranked by price at completion; dollars in thousands Published April 11, 2002

	Buyer	Target	Date Announced	Date Completed	Price Announced	Price Completed	Price at completion to: Equity	Price at completion to: 12-month net	Target's Branches	Target's Assets
1	Washington Mutual Seattle	Dime Bancorp New York	6/25/01	1/4/02	$5,148,125	$4,777,552	2.34	13.82	123	$27,050,041
2	BNP Paribas Paris	United California Bank Los Angeles	12/8/01	3/15/02	2,400,000	2,400,000	2.64	17.8	122	10,762,877
3	BB&T Winston-Salem, N.C.	Area Bancshares Owensboro, Ky.	11/8/01	3/20/02	449,433	511,400	1.65	15.48	72	2,945,953
4	FNB Naples, Fla.	Promistar Financial Johnstown, Pa.	6/14/01	1/18/02	426,816	429,227	1.95	26.49	82	2,056,106
5	BB&T Winston-Salem, N.C.	Mid-America Bancorp Louisville, Ky.	11/8/01	3/8/02	372,347	417,867	2.1	NA	32	1,757,168
6	UNB Canton, Ohio	BancFirst Ohio Zanesville, Ohio	9/6/01	3/7/02	215,455	217,957	1.88	13.78	29	1,520,960
7	Associated Banc-Corp. Green Bay, Wis.	Signal Financial Mendota Heights, Minn.	9/10/01	2/28/02	193,697	213,170	2.1	20.73	10	1,089,728
8	Sovereign Bancorp Philadelphia, Pa.	Main Street Bancorp Reading, Pa.	7/17/01	3/8/02	171,118	171,842	1.79	33.27	45	1,604,213
9	BankAtlantic Bancorp Fort Lauderdale, Fla.	Community Savings Bankshares N. Palm Beach, Fla.	9/10/01	3/22/02	171,201	171,661	1.4	31.21	22	948,347
10	American Financial Holdings New Britain, Conn.	American Bank of Connecticut Waterbury, Conn.	7/19/01	1/18/02	153,733	170,400	1.88	13.74	17	1,900,534
11	Marshall & Ilsley Milwaukee	Richfield State Agency Richfield, Minn.	11/19/01	2/28/02	156,947	159,859	2.15	13.35	7	764,032
12	City National Beverly Hills	Civic BanCorp Oakland, Calif.	11/19/01	2/28/02	110,708	122,728	2	20.34	10	510,280
13	Hudson River Bancorp Hudson, N.Y.	Ambanc Holding Amsterdam, N.Y.	9/4/01	3/8/02	101,018	101,018	1.24	24.75	16	711,095
14	First National of Nebraska Omaha	Castle BancGroup Dekalb, Ill.	9/11/01	1/31/02	81,700	81,700	1.62	13.41	10	578,963
15	FNB Naples, Fla.	Central Bank Shares Orlando, Fla.	11/7/01	2/1/02	80,000	80,000	3.16	17.74	6	240,884
16	Firstfed America Bancorp Swansea, Mass.	Peoples Bancshares New Bedford, Mass.	10/1/01	2/28/02	72,961	78,051	2.01	17.48	12	928,492
17	Virginia Financial* Staunton, Va.	Virginia Commonwealth Financial* Culpeper	6/13/01	1/18/02	89,325	72,637	1.33	14.28	14	465,833
18	Colonial BancGroup Montgomery, Ala.	Mercantile Bancorp Dallas	11/30/01	3/29/02	67,000	71,280	2.8	32.38	7	346,279
19	WesBanco Wheeling, W.Va.	American Bancorp Wheeling, W.Va.	2/22/01	3/1/02	74,017	70,574	1.64	18.76	22	705,216
20	Dakota Bancshares Mendota Heights, Minn.	Midway National Bank of St. Paul St. Paul	10/10/01	2/22/02	68,000	68,000	1.18	13.09	4	437,318
21	Marshall & Ilsley Milwaukee	Century Banchsares Eden Prairie, Minn.	12/4/01	3/1/02	65,908	66,403	2.15	12.41	3	342,152
22	Chittenden Burlington, Vt.	Ocean National Kennebunk, Maine	10/5/01	2/28/02	53,250	53,250	2.37	15.71	11	276,161
23	Capital Bank Raleigh, N.C.	First Community Financial Burlington, N.C.	10/5/01	1/18/02	51,680	51,448	1.11	58.22	4	211,031
24	Texas Regional Bancshares McAllen, Tex.	Riverway Holdings Houston	9/17/01	2/22/02	47,520	49,594	1.55	11.66	2	677,022
25	Hasten Bancshares Indianapolis, Ind.	Harrington Financial Group Richmond, Ind.	5/30/01	1/18/02	40,000	40,174	2.1	10.81	8	447,895
26	Parkvale Financial Monroeville, Pa.	Second National Bank Masontown, Pa.	7/30/01	1/31/02	36,800	36,800	1.42	15.87	5	195,782
27	First Community Bancorp Rancho Santa Fe, Calif.	Pacific Western National Bank Brea, Calif.	8/22/01	1/31/02	36,633	36,633	1.81	18.19	5	233,131
28	First Banks St. Louis	Plains Financial Des Plaines, Ill.	8/2/01	1/15/02	36,500	36,500	1.45	13.65	5	255,479
29	First Financial Terre Haute, Ind.	Community Financial Olney, Ill.	3/30/01	2/1/02	33,241	33,292	0.99	NA	17	277,697
30	United Bancor Dickinson, N.D.	Bismarck Bancshares N.D.	8/31/01	1/4/02	25,000	25,000	1.91	15.91	5	162,426
31	First Community Bancorp Rancho Santa Fe, Calif.	W.H.E.C. Inc. Carlsbad, Calif.	11/13/01	3/7/02	21,084	24,449	2.06	13.75	6	140,614
32	United Community Financial Youngstown, Ohio	Potters Financial East Liverpool, Ohio	9/6/01	3/29/02	23,445	23,455	1.66	13.34	4	151,466
33	Community Trust Bancorp Pikeville, Ky.	Citizens National Bank and Trust of Hazard Ky.	10/16/01	1/2/02	20,000	20,000	1.18	27.74	7	139,505
34	BancorpSouth Tupelo, Miss.	Pinnacle Bancshares Little Rock, Ark.	11/15/01	2/28/02	19,435	19,834	2.28	17.04	3	127,856
35	Union Community Bancorp Crawfordsville, Ind.	Montgomery Financial Crawfordsville, Ind.	7/24/01	1/2/02	18,508	18,843	1.1	59.65	5	136,855
36	The Banc Birmingham, Ala.	CF Bancshares Port St. Joe, Fla.	8/9/01	2/15/02	15,250	15,250	1.88	15.92	4	103,712
37	ITLA Capital La Jolla, Calif.	Asahi Bank of California Los Angeles	11/2/01	1/31/02	14,900	14,900	1.2	26.65	1	80,966
38	GBC Bancorp Los Angeles	Liberty Bank and Trust Boston	10/11/01	2/28/02	11,445	11,900	1.87	14.12	2	37,377
39	Black Diamond Financial Group Tampa, Fla.	Bank of St. Petersburg Fla.	9/21/01	1/2/02	11,000	11,000	2.26	22.27	2	59,847
40	Banner Walla Walla, Wash.	Oregon Business Bank Lake Oswego	9/26/01	1/1/02	10,000	10,000	1.99	37.96	1	34,175
41	Charter Banking Tampa, Fla.	Florida Bancorp. Palm Harbor, Fla.	11/10/01	2/16/02	8,150	8,150	1.78	37.39	4	57,975
42	Colony Bankcorp Fitzgerald, Ga.	Quitman Bancorp Quitman, Ga.	10/23/01	3/29/02	7,073	7,288	1.07	23.01	1	64,696
43	Southern Development Bancorp Arkadelphia, Ark.	Bank of Ruleville Miss.	8/17/01	1/4/02	4,665	4,665	1.73	17.28	1	19,362
44	Independence Bancshares Independence, Iowa	Fairbank Bancshares Fairbank, Iowa	9/7/00	1/24/02	4,382	4,382	1.35	NA	1	21,389
45	Fidelity Bancorp Pittsburgh	Carnegie Financial Carnegie, Pa.	10/10/01	2/22/02	3,413	3,451	1.12	23.6	2	27,537
46	First National Bancshares Goodland, Kan.	Security State Bank Bird City, Kan.	11/8/01	3/21/02	2,580	2,580	1.22	14.58	1	17,361
47	Mesaba Bancshares Grand Rapids, Minn.	Bovey Financial Bovey, Minn.	9/15/01	1/2/02	1,400	1,400	1.25	16.28	2	11,952
48	GN Bankshares Girard, Kan.	Financial Bancshares Holton, Kan.	11/26/01	2/1/02	NA	NA	NA	NA	6	93,631
49	LB Community Bank and Trust FSB Minneapolis	AAL Bank and Trust FSB Appleton, Wis.	6/27/01	1/1/02	NA	NA	NA	NA	1	2,878
50	Madison & Bradford Federal Forest Hill, Md.	Bohemian American Federal Baltimore	1/25/02	3/4/02	NA	NA	NA	NA	2	42,359
51	Panhandle Aviation Clarinda, Iowa	Farmers State Bank Schleswig, Iowa	7/24/01	1/7/02	NA	NA	NA	NA	2	61,275
52	Plainville Bancshares Plainville, Kan.	Farmers Bancshares Lincoln, Kan.	11/2/01	1/1/02	NA	NA	NA	NA	4	29,083
53	Valley View Bancshares Overland Park, Kan.	Guaranty Bancshares Kansas City, Kan.	12/8/01	1/18/02	NA	NA	NA	NA	6	194,785
54	Wells Fargo San Francisco	Texas Financial Bancorp Minneapolis	10/5/01	2/1/02	NA	NA	NA	NA	66	2,963,743
55	Wells Fargo San Francisco	Marquette Bancshares Minneapolis	10/5/01	2/1/02	NA	NA	NA	NA	82	3,405,342

*Merger of equals.